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Perfected first lien

• A first lien that is duly recorded with the cognizant governmental body so that the lender will be able to act on it should the borrower default.

 
 Embedded terms in definition
 Default
Lien
Will
 
 Related Terms
 Blanket inventory lien
First call
First in first out fifo
First notice day
First pass regression
Floating inventory lien
Floating lien
Last in first out lifo
Lien
Lifo last in first out

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Tips for Trying to Fix a Clogged or "Frozen" Home Equity Line: For years, homeowners have turned to home equity lines of credit (HELOCs) as a way to borrow against their home's value to pay for college tuition, home improvements, medical bills and other major expenses. (A home's equity is the market value minus what is owed on the mortgage. If you owe $100,000 on your mortgage but your home is worth $250,000, your equity is $150,000.) More...

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